Advisers who think their firms may go under following the implementation of the RDR should consider selling now while their firms are good value, according to Clerical Medical head of intermediary strategic planning David Shelton.
He warns advisers not to bury their heads in the sand when it comes to the impact of the RDR and says up to 30% of firms will have to think carefully about selling their businesses or making drastic changes. “It is human nature to think the implementation of the RDR is five years away and things could change when the final rules come out. However, although there is a lot of detail to come, the direction of travel is pretty clear,” he says. “There are around 30-40% of adviser firms who are not at professional status or at a stage when they can get there soon. They offer effective strai...
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